BEE cannot speed up economic growth: Solidarity

[James]

Black Economic Empowerment (BEE) cannot speed up economic growth as it favours the politically connected, Solidarity said on Monday.

"According to the true measure of wealth -- access to goods and services -- almost all South Africans, including black people, are poorer thanks to BEE," said Piet le Roux, researcher at the Solidarity Research Institute (SRI).

It could not speed up economic growth, reduce inequality or achieve general black empowerment.
...read more here: BEE cannot speed up economic growth: Solidarity

 

[Ike_009]

What I've believed for years, BEE just restricts potential and thus real growth. Just an excuse for government to waste our Taxes.

 

[HavocXphere]

This is a strawman argument. Did the ANC claim somewhere that it would speed up growth? If not then this is just lame. The set up a flawed argument on behalf of their opponent (speed up economic growth) and then knocked it down.

BEE isn't even intended to boost growth, its intended to fix inequalities.

Pretty pathetic that Solidarity is fielding such arguments....leave the fallacy driven rhetoric to the ANC - its what their good at.

 

[Fivel]

This is a strawman argument. Did the ANC claim somewhere that it would speed up growth? If not then this is just lame. The set up a flawed argument on behalf of their opponent (speed up economic growth) and then knocked it down.

BEE isn't even intended to boost growth, its intended to fix inequalities.

Pretty pathetic that Solidarity is fielding such arguments....leave the fallacy driven rhetoric to the ANC - its what their good at.

If you think about it, it may retard growth for a while as there is an inevitable cost to this. Cost not only in a financial sense but also a cost related to a less efficient and experienced work force.

 

[Necuno]

What I've believed for years, BEE just restricts potential and thus real growth. Just an excuse for government to waste our Taxes.

ANC: Businesses WE WANT YOU TO CREATE JOBS !!!!!!!!!!!!

Businesses: Then why do you have us bend over with all these restrictions and taxes ?

ANC: Because WE WANT YOU TO CREATE JOBS !!!!!!!!!!!!

See logic fail? I'm totally for employ the best person, but really we know how that is applied in the work place. Even at my current employment cvs are tossed sometimes because you are of the wrong race...

 

[MalicE]

fuck BEE. what's wrong with getting a job because you are the most qualified and best suited for it, regardless of your race or creed???

BEE is helping to put this country in the toilet

 

[ViperGTI]

I could be wrong but I think, BEE and AA are two separate things. Affirmative Action refers to the individual whereas BEE refers to company status which is determined by colour of owners and staff.

While I would support AA if implemented correctly, BEE is just corruption that make the rich richer. It is a select few black people that are well connected that become directors / partners in companies to get awarded big government contracts while the situation of the poor remains unchanged.

 

[Ike_009]

I could be wrong but I think, BEE and AA are two separate things. Affirmative Action refers to the individual whereas BEE refers to company status which is determined by colour of owners and staff.

While I would support AA if implemented correctly, BEE is just corruption that make the rich richer. It is a select few black people that are well connected that become directors / partners in companies to get awarded big government contracts while the situation of the poor remains unchanged.

And that's the point here, BEE has done more to increase the divide between Rich vs Poor, Black vs white and Disadvanted vs those with connections over broad averages when compared to what might have been achieved without BEE.

http://www.iol.co.za/business/business-news/world-bank-sa-must-fight-inequality-1.1348058

 

[Tjitah]

BEE has also alienated and chased away a lot of skills, which would have contributed to job creation, economic growth and general prosperity through the multiplier effect (every job created favours many other industries through spending of that salary). BEE will go down in history as just as big and ugly a failure as apartheid - it is basically the same thing. Except that BEE has been more detrimental to employment and economic growth than sanctions in the apartheid era.

 

[Jan]

Epic thread necro. Locked.
[MENTION=21643]Tjitah[/MENTION]: Appreciate that you went searching for a thread instead of creating a new one, but in cases like this where there wasn't a new post in years, it is usually better to just make a new thread.

There may be exceptions, such as if there was a follow-up to an old story, but even then it is typically better to just make a new thread and link to the old one.